DAIRY
More Global Investors Look at Ice Cream Market in China
BY Chris WangNov 24, 2020
-The Japanese food giant Meiji is setting up a new factory in Shanghai for ice cream production. -China has become the world’s largest ice cream consumption market and the market scale reached 138 billion yuan in 2019. But it has not been saturated yet. -A batch of new and small ice cream brands have been going viral since 2016.
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Meiji’s latest movement on ice cream in China

On November 13, the Japanese food giant Meiji announced its latest 650 billion yuan investment plan - setting up a new factory in Shanghai for ice cream production. This factory will begin operation in 2023 which will grant Meiji 2.3 times higher production capacity of ice cream within China [1].

Meiji already has an ice cream plant in Guangzhou established in 2012, which has an annual production capacity of 107,100 tons with a total investment of 789 million yuan. 

The reason behind this new factory is the sales of Meiji's ice cream consistently increased in China. In 2019, it was up by 25% Y-o-Y. According to its 2020 semi-annual financial report, Meiji's confectionery, milk and yoghurt sales declined in the Chinese market, whereas ice cream bucked the trend with unexpected growth.

popular-ice-cream-products-in-china-by-meiji.pngPopular ice cream products in China by Meiji, JD.COM

A look at China ice cream market

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Chris Wang
ChemLinked Content Manager, Research Specialist
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